American Debt Counseling
A Few Statistics to get You Started
America is one of the richest nations in the world. Could that be because we continually live beyond our means? Consider these facts:
- Unpaid credit in America was $400 billion in 2002, and it was up to $800 billion in 2004.
- Three out of every five American families can't afford to pay off their credit cards in full each month, and the average balance is $12,000.
- People on limited incomes are using credit now more than they ever have before. In the mid 1990s, credit card debt doubled for those living below the poverty level, and the average credit card balance for senior citizens went up 89% between 1992 and 2001.
These are just a few reasons why Americans need American debt counseling.
What You Can Learn From American Debt Counseling
There are a lot of reasons for the above statistics. For one thing, the price of gas is higher than it's ever been. For a mobile nation, that hurts (especially when a lot of families use SUVs as their main mode of transportation). And the price of milk is going up almost as fast as the price of gas. How else are those on limited incomes (such as senior citizens) supposed to get by? The problem is that "getting by" on credit cards only works temporarily. Eventually, the minimums get too high to be affordable. But if you enroll in anAmerican debt counseling program, a debt counseling expert will review your finances with you. He or she will determine what your debt-to-income ratio is--ideally, your outstanding debt shouldn't be any more than 20% of your income, excluding your mortgage--and will teach you how to live within your means through budgeting techniques. American debt counseling experts can even teach you how to build up your savings account and how to use credit wisely.
Where to Get American Debt Counseling
You can find consumer debt counseling companies all over the Internet and on our Related Resources page. You can even find debt counseling plans for specific states--like New York debt counseling, and Florida debt counseling.
All material copyright © 2008 Debt Consolidation Nation. All rights reserved.
About Us | Contact Us | Site Map | What's New | View as RSS
